Market News Page No. 467| Africa Business News | Afrotrade

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Chinese firm to build new industrial park in East Africa

China Civil Engineering Corporation (CCECC) has concluded a US$246mn deal with Ethiopia’s Industrial Parks Development Corporation (IPDC) for the construction of the Hawassa Industrial Park Ethiopian firm MH Engineering has been appointed as a consultant on the project, which will be completed in nine months. The industrial park will focus on garment manufacturing and the agriculture industry. The first phase of.... Read more »

Posted on : Wednesday , 9th September 2015

Kenya gets new online grain trading platform

PXAfrica Limited has launched an online grain exchange in Kenya, providing a platform for wheat and maize trading A subsidiary of the US-based PanXchange, Inc., the firm has already attracted 20 subscribers who represent about 35 per cent of the local grain market. It also has users in Tanzania and Uganda. “Recruiting smallholder farmers and expanding into cross-border trading were activities we had planned for next year’s.... Read more »

Posted on : Wednesday , 9th September 2015

Kenya: Gold discovery brings Nandi back to life

The discovery of one of the world’s most prized minerals — gold — is opening golden opportunities for villagers at Kapsaos location, Aldai in Nandi County. Kapsaos is slowly turning into a hive of activity as residents seize opportunities to extract the resource from their hilly and rocky farms to generate additional income from the traditional maize, coffee and livestock farming. Their anxiety has also been.... Read more »

Posted on : Wednesday , 9th September 2015

Multi-billion fertiliser plant launched in Uasin-Gishu

Eldoret, Kenya: A multi-billion shilling fertiliser plant that will meet the specific soils and crop conditions across the country has been launched in Uasin-Gishu County. The first project of its kind in Kenya, which is being spearheaded by the Toyota Tsusho Fertilizer Plant, will bring down the cost of production upon its completion. Deputy President William Ruto graced the colorful ground breaking ceremony, which was held at Ngeria.... Read more »

Posted on : Wednesday , 9th September 2015

Kenya's irrigation project set for bumper harvest

NAIROBI: A bumper harvest is expected from the Galana irrigation project, which will potentially reduce the price of maize flour by half. The news comes as Kenyans grapple with high maize flour prizes, with a two-kilogramme packet going for Sh120.The Sh14 billion project that is being carried out by an Israeli firm, Green Arava, is part of President Uhuru Kenyatta’s plan to enhance food security in the country. The Government.... Read more »

Posted on : Wednesday , 9th September 2015

Kenyan counties to benefit from Israeli agri-technology farming methods

NAIROBI: County governments are set to benefit from Israel’s agricultural technology following the success in the Galana-Kulalu project. Water and Irrigation Cabinet Secretary Eugene Wamalwa, said the Government will be taking up accruing opportunities from the successful Galana-Kulalu Food Security projects. “These projects will be carried out in various counties that we have identified as having irrigable potential. This.... Read more »

Posted on : Wednesday , 9th September 2015

Liquid Telecom set to expand footprints in Tanzania

Tanzania is positioned to be a hub and potential guide way of fibre optic network connectivity for the East, Central and Southern Africa, making telecommunication sector key contributor to economic growth. Liquid Telecom, Chief Executive Officer Mr Nic Rudnick made the remarks in Dar es Salaam yesterday during the Annual conference that constituted all large cable operators across the continent who met to share experience on new technologies in.... Read more »

Posted on : Wednesday , 9th September 2015

NHIF partners with Standard Group to reach 25m

The National Health Insurance Fund (NHIF) has partnered with the Standard Group (SG) to register 25 million members from both the formal and informal sectors by the end of June 2016. NHIF, which was established in 1966 as a department under the Ministry of Health, will use SG’s seven media platforms including Radio Maisha, KTN, KTN NEWS, The Standard, Think Outdoor, The Nairobian and Standard Digital to reach its target. Speaking.... Read more »

Posted on : Wednesday , 9th September 2015

Drill Or Drop Decision In Ethiopia�s Adigala Block Expected In January 2016

Genel Energy a partner at the Adigala block in Ethiopia says a drill or drop decision is expected in the first quarter of 2016 as it continues further processing and interpretation of new 2D seismic acquired in 2014. According to the latest investor presentation the seismic that commenced in the second quarter of 2014 was to refine a number of existing leads into drill ready prospects and de-risk the prospectivity of the.... Read more »

Posted on : Tuesday , 8th September 2015

Spectrum Secures Contract For 2d Seismic Offshore Somalia

Spectrum ASA has announced it has entered into a Multi-client master co-operation agreement with the federal government of Somalia to acquire approximately 28,000 km of long offset 2D seismic data offshore south Somalia during a signing ceremony on September 5th at the SYL Hotel, Mogadishu. The new acquisition has been specifically designed to complement 20,000 km of existing seismic that was acquired in 2014 by Seabird.... Read more »

Posted on : Tuesday , 8th September 2015

EGAS invites LNG Traders to workshop

Egyptian Natural Gas Holding Company reportedly invited ten LNG trading companies to a technical workshop linked to Egypt’s second LNG supply tender. Sources told Reuters that the companies invited could be in a short-list of possible winners of the tender to supply 45 cargoes of liquefied natural gas to Egypt in 2015 through 2016. Twelve companies has submitted bids with two being dropped. EGAS invited PetroChina,.... Read more »

Posted on : Tuesday , 8th September 2015

Israel to construct pediatric hospital in Kenya

A new pediatric hospital in Kenya is set to be constructed after an agreement was signed by Schneider Childrens’ Medical Centre and Nyandarua County. The construction project under Schneider which is Israeli’s largest children hospital will offer technical support and human resource development tools to the residents. The project will be constructed in Ol Kalou town. Nyandarua Governor Daniel.... Read more »

Posted on : Tuesday , 8th September 2015

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